The US House of Representatives has approved a bill on the regulation of cryptocurrencies
The US House of Representatives approved the bill “On Financial Innovations and Technologies for the 21st Century”, aimed at regulating the cryptocurrency market. This decision marks the first significant step in creating a clear legal framework for digital assets in the US.
About this informs Ministry of Finance.
The bill received broad bipartisan support despite President Joe Biden’s reservations. It is designed to lay the legal foundation for the crypto industry, which has been operating in a relative “gray zone” until now. In particular, the document proposes a mechanism for classifying cryptoassets depending on their characteristics, which can have a significant impact on their taxation and regulation.
Coinbase CEO Brian Armstrong called the vote a historic moment, stressing that it is the first step toward clear regulation of the crypto industry in the United States.
BlackRock abandons staking in application for Ethereum-ETF
Meanwhile, BlackRock has amended its application for spot Ethereum-ETF, excluding staking from it. This move is probably related to the desire to avoid additional questions from the regulators. Similar changes were made by other companies claiming to launch Ethereum-ETF.
The SEC decision on Ethereum-ETF is expected on May 23. Experts predict a high probability of approval, which can become a powerful impetus for the development of the cryptocurrency market.
An investor made millions on PEPE memcoin
The success of the memcoin Pepe Coin (PEPE) continues to impress. One of the investors made more than $3.4 million, increasing his initial capital by more than 7,000 times. This once again confirms the high volatility and potential of the cryptocurrency market.
Worldcoin under investigation in Hong Kong
The Worldcoin project, which offers user identification through iris scanning, has run into trouble in Hong Kong. The local regulator accused the company of violating privacy rules and demanded that it stop collecting biometric data of citizens.
